Biden-Flation is outpacing American workers’ wages, and while some have reduced spending or tapped into savings to make ends meet, others have been forced to take on a second job.
This is just one year after President Biden denied inflation and claimed that rising prices were simply “transitory.”
As CBS News reports:
“Although fewer people today are working multiple jobs, more Americans than ever hold two full-time jobs, amounting to more than 70 hours of work a week. In June, 426,000 people were working two full-time positions, compared to 308,000 in February 2020, according to federal labor data.”
Now, at the worst possible time, Democrats plan to raise taxes that will crush American families and devastate Main Street businesses.
- “Many people have already reined in spending where they can, while others have tapped their pandemic savings to cover the rising cost of food, gas, rent and other necessities. Yet the highest inflation in 40 years is weighing heavily on millions of households. Three-quarters of middle-income Americans say they don’t earn enough to pay for the cost of living, according to a recent survey.”
- “’At the end of the day, there are only so many credit cards you can load up and things you can avoid spending on before you come to the reality that maybe you have to pick up a second job,’ Columbia Business School professor Mark Cohen told CBS MoneyWatch.”
- “As the pandemic erupted in the U.S. in 2020, roughly 4% of employed people held multiple jobs in the U.S., according to data from the St. Louis Federal Reserve. By June of this year, that figure had jumped nearly a full percentage point.”